The interest in BTC may well stem from the announcement that Javier Milei, a keen supporter of cryptocurrencies and Bitcoin in particular, has been elected President of Argentina.
“With legal tender, they scam you with the inflationary tax… #Bitcoin is the natural reaction against central bank scammers; to make money private again.” – Javier Milei, President of Argentina 🇦🇷🇦🇷pic.twitter.com/Rs2yXFo4e7
— Dylan LeClair 🟠 (@DylanLeClair_) November 19, 2023
Bitcoin price has returned above the $37,000 level despite the US Securities and Exchange Commission (SEC) missing its latest eight-day window for spot ETF approvals.
Bitcoin Price Outlook As Argentina Bucks BTC Past $37,000
Momentum indicators such as the Relative Strength Index (RSI) point to indecisiveness, with its overall flattened look and hinted deviation to the south. The Awesome Oscillator (AO) also adds credence to the downside, with its histogram bars flashing red as their volumes reduce. If the outlook sustains, it could flip bearish below the zero line.
The volume indicator also corroborates the outlook as it remains low, supporting the weak price strength.
Unless the bulls increase their buying strength, Bitcoin price could move below the mean threshold at $36,788. This could extend south below the grasp of the lower boundary of the supply zone at $36,276.
Increased selling pressure past the aforementioned level could send Bitcoin price below the ascending trendline to test the support confluence between the 25-day Exponential Moving Average (EMA) at $35,410.
Lower, Bitcoin price could find support due to the 50-day EMA at $33,295, collecting buy-side liquidity residing underneath, with the potential to slide lower to the supply zone that now acts as a bullish breaker extending from $30,126 to $31,524.
A break and close below the mean midline of this order block at $30,824 would confirm the continuation of the downtrend.
As the Bitcoin community joins Argentina in celebrating Milei’s victory, Bitcoin ETF Token takes the stage. Analysts say it is the best crypto presale to buy in 2023. Experts anticipate 10X growth potential upon launch.
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The Bitcoin ETF Token project brings forth its native token, BTCETF, an ERC-20 token, selling for $0.0056. So far, presale collections have reached $1.19 million, out of the target objective of $1.78 million.
Bitcoin ETF Token is an innovative venture that continues to reshape the cryptocurrency landscape by front-running the BTC ETF narrative. The Bitcoin ETF Token project is not linked to any Bitcoin ETF products that may enter the market. But its roadmap corresponds to actual events that are expected to occur in the cryptocurrency markets.
— BTCETF_Token (@BTCETF_Token) November 17, 2023
The project is tied to the Bitcoin price’s development and the expected ETF approvals from the US SEC. Interested investors are advised to join the community for news feeds that will keep you updated on all the latest news.
Our news feed will keep you updated on all the latest news. 📰
Follow, activate notifications, and stay ahead of historic Bitcoin events! 🔔 pic.twitter.com/hVO6LhxMOj
— BTCETF_Token (@BTCETF_Token) November 16, 2023
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